Egypt's Central Bank Cuts Rates, Easing Inflation
Update: 2025-12-25
Description
Egypts central bank surprises with a fifth interest rate cut, lowering benchmark rates to 20% and 21% respectively. Inflation slows to 12.3%, down from a record high of 38% in September 2023. Economists were caught off guard, with only two out of five expecting the cut. The move aims to balance lower rates for government borrowing with high enough levels to attract foreign investment. Egypt also reached a staff-level deal with the IMF on an $8 billion loan program, unlocking $2.5 billion in tranches. Officials expect inflation to continue easing into 2026, with this cut helping anchor expectations and support economic recovery.
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